Hillsborough Resources/Cornerstone Gas Coalbed Methane Project

Synopsis

A coalbed methane proposal immediately north of the Campbell River airport. In 2009, the project appears to have stalled. Low natural gas prices, collapsing economies, and rejection by local groups may all be contributing factors.

Category Energy

Type Coalbed Methane

Prov BC

Region Vancouver Island

Posted 10Sep09

Updated 29Jan12

Status Cancelled

Resolution

The emergence of huge volumes of shale gas in North America, plus the prevailing and persisting low price of natural gas, makes most coabed methane plays unviable. This one - in which exploratory work had not yet begun - is too speculative to attract any investment. Since the project's inception, Hillsborough Resources was acquired by the Vitol Group, which likely has no interest in highly uncertain ventures of this sort.

Contacts

LOCAL
COMMUNITY

Citizens Concerned about Coalbed Methane - Vancouver Island, info(at)cbmvi.org, www.cbmvi.org

PROPONENT

Cornerstone Gas

Hillsborough Resources

More information

Location